A bill that provides state protections for banks that deal with medical marijuana revenue was approved overwhelmingly by the West Virginia House of Delegates on Friday.

Introduced by Del. Eric Nelson (R), the legislation authorizes the state treasurer to open a bidding process for banks and other financial institutions that are willing to process the “fees, penalties and taxes collected under” the state’s medical cannabis program.

It would also make it so the state government could not “prohibit, penalize, incentivize, or otherwise impair” financial institutions that accept accounts for medical cannabis businesses operating in compliance with state law. 

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Kyle Jaeger ~ MarijuanaMoment.net ~  

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